Bénéteau

Investor Presentation • Dec 5, 2022

GROUPE BENETEAU

Investor Conference

3-10 DEC 2022 Paris Boat Show / December 5, 2022

Disclaimer

This Presentation and all the supporting documents, including the related oral presentations and discussions (collectively the "Presentation"), have been prepared by BENETEAU SA (the "Company", and together with its subsidiaries and affiliates, the "Group"). By listening to the Presentation, by consulting it or consulting slides from the Presentation, you agree to the following.

This Presentation does not constitute and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any securities of the Group in any jurisdiction.

This Presentation may include forward-looking statements. Such statements refer in particular to the Group's present and future strategy, the growth of its operations and future events and objectives. Such statements may contain the words "anticipate", "believe", "intend", "estimate", "expect", "project", "plan" and other similar expressions. By their nature, forward-looking statements involve risks and uncertainties, which could cause the actual results and performance of the Group to be materially different from the

future results and performance expressed or implied by such forwardlooking statements. Such forward-looking statements are formulated exclusively on the date of this document and the Group makes no undertaking in any way to supplement them, modify them, update them or revise them, whether to reflect changes in the Group's expectations or changes relating to any events, conditions or circumstances on which such forward-looking statements are based.

Bruno Thivoyon Groupe Beneteau CEO

Gianguido Girotti Boat Division CEO

2020 – 2022 What has been achieved since July 9, 2020

2023 – 2025 What is to come

Thanks to our teams, suppliers and customers WE HAVE BUILT A STRONGER GROUP

House of Brands

Industrial Strategy

Worldwide efficient organization

Housing growth & profitable recovery

Enter new businesses

Moving towards > 10% profitability by 2025

Rationalized and flexible industrial footprint

BOATS <40ft (Poland, US, Portugal)

DRIVERS Price-sensitive, market share gains

ACHIEVEMENTS

• Poland growth
• Portugal acquisition
• Tunisia sub-contracting

BOATS 40-60ft (France)

Bespoke products, shorter cycles

Footprint rationalization Increased capacity & flexibility

(Cholet, Bordeaux)

BOATS 60-80ft (Italy, France)

Premium segment

Monfalcone dedicated to the House of Brands Molding integration

Shipyards specialized by size Increased flexibility

Growth potential thanks to use of assets

Rationalized and flexible industrial footprint

Concrete example: 50-60ft sailing multihulls

Higher flexibility to market demand Better launch conditions for new models Improved efficiency / Increased capacity

Worldwide efficient organization

BOAT DIVISION 4 worldwide markets

Dayboating Real Estate Sail Monuhull Sail Multihull

BOATING SOLUTIONS DIVISION 4 worldwide markets

Digital Financing Charter Boatclub

Housing

HOUSING DIVISION 1 european market

All functions have a worldwide role, focused on business development for each market

• Market share recovered in France on a dynamic market, despite Luçon fire
• 25% CAGR outside France

A profitable Division, accelerating international growth

Groupe Beneteau profitability improvements

Guidances exceeded despite the challenging context

9%+ Income from operations in 2022

The plan is on track

• Solid business model
• Adapted to market changes
• New growth drivers engaged

2020 – 2022 What has been achieved since July 9, 2020

2023 – 2025 What is to come

2023 – 2025 What is to come

Lead the market evolution

• Drive the Boat Division's profitable growth through value proposition & branding
• Make Boating Solutions a profitable acyclical activity
• Accelerate the Housing Division's profitable growth in Europe
• Be a sustainable and transforming leader

Customer expectations

30% first-time buyers

Sustainable mindset

Desire for an experience more than just a product Personalized & connected services

Our strategy

Excellence Design

Branding Product Digitalization Sustainable

Boating

A strong brand creates value!

A strong brand creates value!

BRAND STORY

CUSTOMER - CENTRICITY

CORE IDEA

PREMIUM LOOK & FEEL

DESIGN FEATURES

HOW THE DESIGN IS CREATING VALUE (Audi)

PRESTIGE DNA

DESIRE FOR AN EXPERIENCE MORE THAN A PRODUCT

A strong brand creates value!

LIMITS

Source: SSI, Draper & Company estimates – 2021 data

acrypoolth

YAMAHI

Express Luxury

DAYBOATING Our Product & Design approach

WELLCRAFT 355

Adapted distribution

More diversified product offering

Focused on the customer experience

Twinhull FOUR WINNS TH36

Adventure WELLCRAFT 355

BENETEAU // PRESTIGE PRESTIGE D DELPHIA

1

real estate on the water Customer Experience

REAL ESTATE Our Product & Design approach ON THE WATER

PRESTIGE M48

Focus & densification in key markets

Reduced internal competition

Development of a more diversified product offering, including multihull motor yachts

sailing monohulls multihulls

JEANNEAU

SAILING Where do we see the future?

Value-driven growth leading to €1.5-1.65b revenues by 2025 Targeting 11.5% Income from operations for the upper range of revenues objective in 2025

RENT Occasional

Leisure boater

CLUB Regular Leisure boater

Sringing dreams To Water

NEW Passionate Boater upgrading

2nd HAND Passionate Boater low budget

BENETEAU JEANNEAU PRESTIGE

RCS LAGOON

DELPHIA

20 FOUR WINNS

Boating Solutions Division

Experienced bridge with the Boat Division

Clément Douet V.P. Digital & Spare Parts business

Bruno Thivoyon Boating Solutions Division CEO

Raphael Kuredjian V.P. Financing

CHARTER

Olivier Maynard Deputy CEO

Monica Schaeberle CFO

Olivier Maynard (acting) V.P. Charters

BOAT CLUB

Guarantee traceability of every single boat

accessibility

to water

Improve our boats' longevity Increase

2,000 connected boats in 2022 Over 20,000 connected boats by 2025

Financing a strategic & profitable commercial driver

Customer expectations

• Floor plan financing for dealers
• Retail financing for owners and charters
• Supporting distribution

Key strategic strengths

• Perfect coordination between Brands and Dealer Network
• Dedicated financing lines, with dynamic understanding of changes in stock levels
• Monthly cost per boat adapted to market changes
• Scope extended to new services

Development accelerating in Europe & North America

Worldwide leader

• ~50 cruising and navigation locations
• Total fleet size ~1,000 boats

Market demand back up to pre-Covid levels

• Higher charter revenues despite a smaller fleet
• Very dynamic boat sales market trend

Key profitability improvement drivers

• Ongoing customer experience improvements
• Branding and Pricing management
• Fleet focused on most profitable areas
• Optimize cost of ownership

Source: DYC, Navigare Fiscal year except 2019 (season) 60 80 100 120 2019 2020 2021 2022 Charter revenues (2019 revenue base100)

Confirming the profitability turnaround to accelerate the growth

• 35 active bases at end-2022
• 10 new bases since 2021 investment
• Hybrid approach: membership & rental

Mid-term ambition

• Accelerate development in US & Europe
• Develop synergies with our distribution network
• Investment priority: access the water
• GLASTRON dedicated to US Boat Club usage

A worldwide 100-base / 1000-fleet activity by 2025

Housing Division

A solid team leading the housing market evolution

Patrick Mahé Housing Division CEO

Harald Chabot CFO

Chantal Mortier HR Director

Florence Bugeon Sales & Marketing Director

Operations Director

HOUSING Housing – Profitable development in Europe

• Benefit from dynamic market in France
• Accelerate business development in Europe (~30% of sales in 2025)
• Grow and optimize existing footprint in France & Italy
• Pursue Product Mix development & inflation balance management

A €0.3b+ Sales European leader by 2025, Generating 11% to 12% Income from operations

Corporate Sustainable Responsibility

Sustainable Leadership

Ethical Growth

DECENT WORK AND ECONOMIC GROWTH	SUSTAINABLE CHIES	IC PEACE, JUSTICE 10 AND STRONG INSTITUTIONS	PARTNERSHIPS FOR THE GOALS
	10 10 80 10 合同台=		C

Preserved Ocean

An experienced and diversified Crew to support an ambitious B-sustainable program

Audrey FRANDJI Boat Division HR Dev & CNB HRD

Delphine PLANES V.P. Purchasing, Boat Division

Caroline de SOUZA SABIN V.P. Internal Control, Compliance

Clarence DUFLOCQ V.P. CSR Coordination

Erwan FAOUCHER V.P. Research and Innovation

Eric GREAUD V.P. Health, Safety, Environment & Energy

B-Sustainable: 10-year roadmap accelerating

2021

First electric boat Bio-sourced materials

2020 UN Global Compact signatory

2018

Materiality Assessment 12 main stakes identified CSR reporting on full scope 2022 CSR Committee Green Financing Photovoltaic Elium Alternative propulsion roadmap

2012 ISO 14001 VOCs reductions

2015 ISO 50001

Low styrene resins

2013

First CSR reporting (80% scope)

2016

B-SAFE program

B-Sustainable: concrete objective-driven approach

Frequency rate (nb accidents / 1000h worked)

Non-hazardous waste recycling (% of reused, recycled & recovered vs. total)

3 ESG KPIs already associated with credit line renewals in 2022

Objectives in accordance with our Green Bond Financial targets. Reference year: 2012 for waste recycling & 2016 for frequency rate & VOC emissions

B-Sustainable - Preserved Ocean A complete transformational roadmap

Innovative and transformational roadmap to address each part of the Life Cycle Assesment

Alternative propulsion Accelerating with strategic partners

FOUR WINNS ELECTRIC

Real estate On the water

DELPHIA 11

Monohull cruising

BENETEAU OCEANIS 30.1E

Multihull cruising

EXCESS 15 HYBRID

100% of our product offering will embed alternative

propulsion solutions by 2030

And turning it into business value creation

• Silent mode on board
• 30% electric take rate on DELPHIA 11 orders

DELPHIA expected to be the first 100% electric brand by 2025

Market-leading product innovation industrialized

Recyclable resin converted into commercial contracts

First boat built in 2022 10+ boats in 2023 and 100+ by 2025

Groupe Beneteau wins 2022 Boat Builder Award

for integrating at scale bio-sourced materials & recyclable resin

Eco-designed First 44 visible at Paris Boat Show

Irocco

Bio-sourced parts

BENETEAU FIRST 44

Groupe Eleneteau

Financial outlook

• 2023 revenues growth >15%
• Ambition for €1.8-2.0b of revenues by 2025
• €1.5-1.65b for the Boat Division
• €0.3b+ for the Housing Division
• Charter / Boat Club not included (€0.3b) consolidated with equity method

Income from operations > 10% from 2023

11,5% targeted by 2025 in the upper range of revenues

(+€100m vs 2022)

• ~ +€20m Dayboating segments
• ~ +€20m Real Estate segments
• ~ +€25m Sailing segments
• ~ +€20m Housing Division

~10% CAGR profitable revenue growth between 2022 and 2025 Well balanced between the different segments

Start-up mindset

Sustainable growth

Well-balanced multispecialist

10,000-people crew, continuing to transform their industry

Value-driven growth

Digital and customer-centric growth

GROUPE SENETEAU